Molo cuts five-year fixes by up to 1.00%

Molo Finance has reduced its 75% LTV five-year fixed rates by 0.70% for individuals and by 1% for limited company mortgages.

Five-year fixed rates now start from 5.69% across individual buyers and limited company products up to 75% LTV. These rates are available for all applicants, including first-time landlords and portfolio landlords.

Tracker and variable rate mortgages remain at 5.49% for individual buyers and limited company on products up to 75% LTV.

The lender also recently launched Savings Booster, a new product feature that lets landlords reduce the interest they pay on their mortgage by paying sums into a linked overpayments account. Savings Booster is available across all of its buy-to-let products.

CEO and co-founder of Molo, Francesca Carlesi, said: “The speed and frequency of interest rate rises have led to issues for many landlords obtaining the right financing for their properties. By reducing our five-year fixed rates, we have provided a solution for those landlords who would like the stability of a fixed rate and have been adversely affected by the stress testing and increases in the Bank of England base rate.

"These competitive rates are available on products up to 75% LTV for those who are either purchasing or remortgaging and will give landlords more options for their buy-to-let mortgages.”